Q FM Africa's Modern Radio
Chrispin Mphuka
The Economics Association of Zambia (EAZ) has called for the full reconciliation of government’s public debt and public guarantee debt.
EAZ president Chrispin Mphuka says it is high time the government made public the exact amounts in public debt and public guarantee debt.
Dr. Mphuka says this will clear speculations on Zambia’s public debt given that there could be some other loans government contracted but which are yet to be added to the public debt.
In an interview with QTV News by telephone, Dr. Mphuka says his association however; agrees with the government public debt figure of $9.3 billion.
Dr. Mphuka says the EAZ cannot dispute government’s position not until it is given the full details of what Zambia really owes to the outside world.
He says his association hopes that if indeed the Ministry of Finance has released a current debt sustainability analysis report, the document will give a full picture on Zambia’s debt.
Dr. Mphuka has warned that not publishing the correct figures of the public debt will bring serious consequences in terms of the country’s credibility.
He says this is why it is important for government to acknowledge what comprises the public debt and how much has been borrowed as public guarantee debt.